As investors seek favorable opportunities amid market fluctuations, Prabhudas Liladhar Wealth Management has analysed several schemes to identify the top performing mutual fund schemes of the year.
The equity mutual fund category witnessed a 2.19% return in September 2024, outperforming the NIFTY 500 TRI index. Small Cap Funds emerged as the top-performing category, with 75% of schemes delivering returns above their benchmark. Mid Cap Funds also showcased strong performance, with 28.36% returns over the past six months.
The equity mutual fund category witnessed a 2.19% return in September 2024, outperforming the NIFTY 500 TRI index. Small Cap Funds emerged as the top-performing category, with 75% of schemes delivering returns above their benchmark. Mid Cap Funds also showcased strong performance, with 28.36% returns over the past six months.
Sectoral Trends: Private Banks, Metals, Retail, Automobiles, Consumer, Utilities, and Consumer Durables witnessed increased allocations in September 2024.
Top Performers by Category
In the Large Cap segment, the Quant Large Cap Fund-Reg(G), managed by Sandeep Tandon, leads with a remarkable return of 45.88%, closely followed by the Baroda BNP Paribas Large Cap Fund-Reg(G) at 45.16% and the Bandhan Large Cap Fund-Reg(G) with 44.23%.
The Large and Mid Cap category has seen even more significant growth. The Invesco India Large & Mid Cap Fund(G), led by Aditya Khemani, tops the list with 61.08% return, while the Motilal Oswal Large & Midcap Fund-Reg(G) follows closely with 60.53%.
More From This Section
The Flexi Cap category is dominated by the Motilal Oswal Flexi Cap Fund-Reg(G), achieving a remarkable 62.83% return. The JM Flexicap Fund-Reg(G) also performed well, recording a 59.04% return.
In the Mid Cap sector, the Motilal Oswal Midcap Fund-Reg(G) stands out with 71.80% return. The ITI Mid Cap Fund-Reg(G) and Edelweiss Mid Cap Fund-Reg(G) also showcased strong performances, returning 61.47% and 60.25%, respectively.
Small Cap funds are led by the Bandhan Small Cap Fund-Reg(G), which achieved a remarkable 72.13% return. Following closely are the Mahindra Manulife Small Cap Fund-Reg(G) and ITI Small Cap Fund-Reg(G), returning 59.54% and 58.61%, respectively.
In the Focused category, the Invesco India Focused Fund-Reg(G) has excelled with a return of 68.44%. The ICICI Pru Focused Equity Fund(G) and Mahindra Manulife Focused Fund-Reg(G) have also shown promising returns of 52.68% and 48.71%, respectively.
Value-Contra-Dividend Yield funds are led by the Quant Value Fund-Reg(G), which delivered a return of 67.04%. The LIC MF Dividend Yield Fund-Reg(G) follows with 61.54%.
For Equity Linked Savings Schemes (ELSS), the Motilal Oswal ELSS Tax Saver Fund-Reg(G) has shown excellent performance with a return of 66.56%, while the SBI Long Term Equity Fund-Reg(G) reported a return of 54.46%.
Comparative Performance and Market Trends
The overall performance of equity mutual funds has been strong, with the NIFTY 50 - TRI benchmark returning 33 per cent, while the NIFTY 500 - TRI reported a return of 41.54% over the same period. The Mid Cap and Small Cap indices also performed well, returning 48.21% and 51.49%, respectively.
In a comprehensive analysis of the mutual fund landscape, the total assets under management (AUM) in various equity categories have seen significant growth. Large Cap funds, with a total AUM of Rs 2,53,727 crore, reported a 1-year return of 36.80%, while the Mid Cap funds' total AUM of Rs 2,83,599 crore resulted in a 49.31% return.
Category-wise Performance of Equity Mutual Funds
Category-wise Performance of Equity Mutual Funds